QIC Group and Commercial Bank Qatar Masters cherish a strategic partnership
Qatar Insurance Group, the leading insurer in the MENA region has partnered with Commercial Bank Qatar Masters to be the Official Tournament insurer for the region’s premier Golf tournament. QIC, along with its subsidiaries Qatar Re and Antares, is proud to support the tournament now for the eleventh consecutive year.
Founded in 1964, Qatar Insurance Company (QIC) was the first domestic insurer of Qatar. Today QIC is a dominant insurer in the region and is regarded as the largest insurer in MENA region in terms of profitability, assets and market capitalization. QIC’s consistent rating of A/Stable from Standard & Poor’s and A(Excellent) from A.M. Best affirms QIC’s core strength and sustainable performance.
Implementing its diversification strategy of expanding beyond the borders of Qatar, QIC Group today has been successful in establishing its underwriting footprint across the globe. Besides owning subsidiaries in the MENA region – Oman, Kuwait and a branch in the UAE, the Group also owns a reinsurance subsidiary, Qatar Re and a specialty reinsurance and insurance entity, Antares.
Qatar Re is a global multi-line reinsurer writing a diversified portfolio of treaty and facultative reinsurance including Property & Casualty, Marine & Aviation, Agriculture and specialty lines of business. Headquartered in Bermuda, Qatar Re operates from its branch offices in Singapore, Zurich, Dubai, London and a services company in Doha. Backed by a parental guarantee from QIC, Qatar Re benefits from QIC’s substantial and growing capital base.
In 2017 Qatar Re won the much coveted Bond / Sukuk deal of the Year by Debut Issuer award at the Bonds, Loans & Sukuk Middle East Awards ceremony. In addition, a number of titles, including ‘the most oversubscribed issuance from the MENA region, the highest rated hybrid capital issuance in the region and the first US dollar denominated capital market issuance from an insurer based out of the MENA’ were conferred upon Qatar Re.
Headquartered in Lime Street, QIC Group’s other growth engine – Antares delivers effective and efficient services with a wide range of risk transfer solutions ranging from Property, Casualty, and Marine to Aviation underwriting services. In keeping with its mission, the teams of underwriters at Antares offices in London, Singapore and Shanghai ensure a dynamic and responsive service to its clients, always seeking to provide added value where possible.
Endorsing itself as the leading insurance powerhouse in the MENA region, QIC offers customized insurance products for personal (Car, Home, Travel, Boat, Personal Accident Benefit) and commercial risks (Energy, Marine & Aviation, Property & Commercial, Medical and Motor). Written by a highly qualified team of underwriters, QIC’s insurance solutions reflect customer centricity and a consistent approach towards risk transfer.
Commenting on the Group’s strategic partnership, Mr. Abdulla Al Mulla, Official Spokesperson of QIC Group remarked, “As the official insurer of this year’s Commercial Bank Qatar Masters golf tournament, QIC Group has once again demonstrated its continued commitment to local sporting events. The Group with its subsidiaries Qatar Re and Antares’ are delighted to renew this long-term partnership and raise Qatar’s global profile in support of Qatar National Vision 2030.”